BERLIN, Jan 13 Reuters German economic output stagnated in the final quarter of 2022 and grew 1.9 over the full year, data showed on Friday, adding to signs that Europe39;s largest economy may at least over the winter dodge a recession.
The fullyear rise in gross domestic product GDP just beat the midrange forecast of 1.8 in a Reuters poll of economists. GDP in 2022 was 0.7 higher than in 2019, the year before the start of the COVID19 pandemic.
The economic slowdown over the winter halfyear will, according to the data we have now, be milder and shorter than expected, Economy Minister Robert Habeck said in the ministry39;s monthly report.
Thomas Gitzel, chief economist at VP Bank, said the economy had outperformed low expectations, adding It is possible that the recession will be postponed. On the other hand, we think it is unlikely that the recession will not materialise at all.
A recession is commonly defined as two successive quarters of contraction, and the Federal Statistics Office39;s fourth quarter figure of zero growth was an initial readout that might yet be revised.
But there have been growing signs that the economy, which grew in the third quarter, could stave off the worst of a downturn triggered by a plunge in energy supply from Russia after its invasion of Ukraine.
Despite that backdrop, which has fuelled inflation, German business morale rose more than expected in December, a survey showed last month.
In Britain, where the broader economic outlook…